Japan's Nikkei 225 Falls 2.79%, South Korea's KOSPI Plunges 6.4% on July 16

According to Odaily and Gate data, Japan's Nikkei 225 index fell 1,915.97 points, down 2.79%, closing at 66,835.54 on July 16 (Thursday), with chipmaker Kioxia dropping 14%. South Korea's KOSPI index slid 466.06 points, down 6.4%, to 6,818.35, while SK Hynix declined 11% and Samsung Electronics fell 8%.

The South Korean government said it would announce measures soon to address market volatility exacerbated by leveraged ETFs linked to Samsung Electronics and SK Hynix stocks.